According to a survey of 49 economists by the National Association for Business Economics, the US economy is likely to grow 2.4 percent in 2013. They expect consumer spending to increase 2.3 percent this year while corporate profits are expected to rise by 5.3 percent. Government spending is expected to fall 2.3 percent. US raw [...]
declines in production related indicators The Chicago Fed National Activity Index (CFNAI) decreased to -0.53 in April from -0.23 in March. The index’s 3 month moving average CFNAI-A3 ticked up to -0.04 in April from -0.05 in March. April’s CFNAI-MA3 suggests that growth in national economic activity was very near its historical trend. The economic [...]
Tuesday May 14 Cover up in Benghazi? IRS targeting conservative groups? Justice Department monitoring calls from the Associated Press? Thus far, only the Benghazi tragedy has produced hard facts leading to charges of, at a minimum, total incompetence. A continuing cover up of the facts is likely what happened here. The IRS has apologized, which [...]
I was on the road this week and had plenty of news (little economic) to keep my interest while driving: On Monday the Senate passed a measure authorizing states to compel online retailers to collect sales tax. Estimates are for revenues of around $23 billion annually. Thankfully the bill will certainly face conservative opposition in [...]
US raw steel production inched up 0.4 percent last week as mills operated at an annual capability utilization rate (ACUR) of 77.9 percent. In the corresponding week last year mills operated at an ACUR of 80.9 percent. On the year mills have operated at an ACUR of 76.2 percent compared to the same period last [...]